Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Family business How did you find this deal and how did you negotiate it?

In the future, a) get a super detailed Scope Of Work and ironclad Contract. b) Do not pay more money as a progress payment than the amount of work that has been performed, that way you are never ahead of the Contr or vice versa.Your options (depending on how much he owes you) are Small Claims Court, the State Registrar of Contrs, and possibly the local DAs office or State AG if the amount is higher ($50k ish)Good luck, let us know what happens.

The one thing that I do see on here that would give me pause is that, although I love NC, I absolutely despise doing business in NY.

Doesn’t make since to me, with my business plan.

Esteemed Business Professionals,Greetings,I am pleased to introduce myself as David, a Commercial Real Estate Agent operating in the dynamic landscape of Miami.

Any business will take time to build and achieve consistency.

I will add that out of my STR's, this is the worst performing so if you can't stomach slow months this may not be the market for you. 

During the week is prime time for business and scouting.

Talk to local agents to see what they think the value would be post construction and what the rental value / estimates would be If you get answers that make sense to you to proceed from the above then keep unpealing the onion of development and keep performing the next due diligence steps towards making this project a reality!